HC Wainwright Issues Pessimistic Forecast for Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price target decreased by stock analysts at HC Wainwright from $30.00 to $27.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 120.41% from the company’s previous close.

Several other research firms have also issued reports on EYPT. Guggenheim reiterated a “buy” rating and issued a $68.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Friday, July 17th. Chardan Capital lifted their price objective on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Stifel Nicolaus initiated coverage on shares of Eyepoint Pharmaceuticals in a research report on Thursday, July 16th. They set a “buy” rating and a $40.00 target price for the company. Finally, Cantor Fitzgerald started coverage on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $47.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.38.

Eyepoint Pharmaceuticals Trading Up 5.0%

EYPT opened at $12.25 on Thursday. The business’s fifty day simple moving average is $13.12 and its 200-day simple moving average is $13.79. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -3.50 and a beta of 1.76. Eyepoint Pharmaceuticals has a 12-month low of $9.51 and a 12-month high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Wednesday, August 5th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). The business had revenue of $0.51 million for the quarter, compared to analysts’ expectations of $0.39 million. Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 110.54%. On average, equities research analysts predict that Eyepoint Pharmaceuticals will post -3.3 EPS for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Simplify Asset Management Inc. raised its stake in shares of Eyepoint Pharmaceuticals by 314.9% during the 4th quarter. Simplify Asset Management Inc. now owns 375,264 shares of the company’s stock valued at $6,856,000 after buying an additional 284,824 shares during the last quarter. Commodore Capital LP purchased a new stake in Eyepoint Pharmaceuticals in the 1st quarter worth approximately $36,414,000. Walleye Capital LLC acquired a new stake in shares of Eyepoint Pharmaceuticals during the 1st quarter worth approximately $3,869,000. Vanguard Group Inc. increased its holdings in shares of Eyepoint Pharmaceuticals by 27.1% during the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after purchasing an additional 1,027,623 shares in the last quarter. Finally, Stempoint Capital LP lifted its stake in shares of Eyepoint Pharmaceuticals by 129.1% in the 1st quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock valued at $10,451,000 after purchasing an additional 456,915 shares during the period. Institutional investors and hedge funds own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Company Profile

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.